Flight Safety Foundation Inc

What it reported doing in 2024

Technical, research, library, and other: fsf's technical department engages with international organizations and work groups and focuses its efforts on safety-related research via funded programs. This also includes the australia subsidiary, which provides aviation safety training and the singapore branch, established in 2023, which operates the flight safety foundation asia pacific centre for aviation safety (ap-cas) principally to carry out research and analysis of aviation safety issues in the asia pacific region. Some of the funded programs are detailed in the next few bullet points:- skybrary: fsf provides content review and editorial support that enhances the content and accuracy of safety information.- innovations in technology and processes for cast/asias transformation: fsf is performing research on collaborative safety processes and tools, including those employing advanced computing. - integrated safety assurance research strategy alignment: fsf assessed aviation community priorities that can inform research efforts enabling the sky for all concept, including the assessment of the alignment between the current sky for all roadmap and the roadmap for the in-time aviation safety management system.- assessment of aviation stakeholder priorities and needs for the evolution to in-time aviation safety management: fsf explored the potential operator benefits pool associated with implementation of the in-time aviation safety management system (iasms) and assess key dependencies associated with implementation of iasms.- development of a concept and path forward for future aviation operations: this project provides support for the development of sky for all, a concept for the future operation of the national airspace system.- initial safety assessment for digital flight: this project involves 1) a qualitative assessment of the safety risks/benefits of a digital flight and 2) a qualitative assessment of how digital flight relates to the in-time aviation safety management system concept and roadmap.- dual registration study: fsf studied the impact of international aviation sanctions on the ability to sustain and verify the safety of western-built aircraft operated by air operators from countries affected by sanctions. A series of reports were produced that addressed regulatory noncompliance matters and provided expert assessment of safety concerns.- safety 2: fsf developed a new framework to leverage operational information to enhance safety through applying best practices from positive outcomes in normal operations.- asia pacific safety data sharing demonstration project: fsf, in collaboration with mitre and several participating civil aviation authorities in asia pacific identified safety hazards and risks in air safety and provided lists of potential mitigation approaches.- asia pacific centre for aviation safety: the fsf asia pacific centre for aviation safety conducts studies on regional safety issues that include recommendations to strengthen safety and assists regulators and industry to implement the recommendations.- universal safety oversight audit program: fsf is collaborating with selected civil aviation authorities to deliver training that prepares them for audits under icao's usoap.

Financial Efficiency

• Mission deployment rate: 76.3%; rating input score 76
• Program expense ratio: 80.5%; rating input score 81
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: Scored; rating input score 0
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 95%; rating input score 95; 25th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 6.6%; rating input score 55; 55th percentile among comparable filings
• Total-asset coverage ratio: 1.01; rating input score 37; 37th percentile among comparable filings
• Liabilities to assets ratio: 0.31; rating input score 33; 33rd percentile among comparable filings
• Officer compensation ratio: 27.5%; rating input score 7; 7th percentile among comparable filings

Growth

• Program expense growth: 0.1% per year; rating input score 100; 14th percentile among comparable filings
• Revenue growth: 0.9% per year; rating input score 100; 15th percentile among comparable filings
• Asset growth: 0.5% per year; rating input score 100; 14th percentile among comparable filings